Georgia’s state-owned investment fund known as the Partnership Fund will change its name into the Georgian Development Fund, - according to the Public Broadcaster, the government has already submitted the relevant bill to the Parliament.
At present, the PF does not include any enterprises. In January 2023, the Georgian Railway left the fund. In addition, the Oil and Gas Corporation was withdrawn from the Fund from late 2022.
Following the rebranding, the state-owned fund will have an independent board of trustees comprised of professional members, instead of state officials.
The government of Georgia plans to change the name of the "Partnership Fund" from 2021, the first announcement about this was made by the then Minister of Economy Natia Turnava in November 2021.
According to the management report of the fund, the organization plans to invest USD100 million in commercially attractive projects in several sectors, although the document does not explain exactly where the organization will get these funds from.
